Last details of EFSI deal agreed
The final political trialogue on the European Fund for Strategic Investment (EFSI) regulation has been held in Brussels.
The meeting at the European Parliament on Thursday saw the last minor political issues resolved on the proposed EFSI regulation. The outcome of the trialogue between the Council of the European Union, the European Parliament and the European Commission will pave the way for new investments of at least €315bn in the EU.
According to the Latvian Council Presidency, the provisionally agreed compromise will maintain adequate funding for science and infrastructure through Horizon 2020 and the Connecting Europe Facility, whilst ensuring transparent and stable funding for the EFSI’s objectives.
The selection of EFSI projects will be based on compliance with EU policies, economic viability and their potential to attract private investment. The fund will also allow the implementation of a series of projects that, until now, would not have been able to attract sufficient investments. Furthermore, the EFSI will mobilise private funds to facilitate growth and jobs in the EU.
In accordance with the European Council’s conclusions in December 2014, the new investments through EFSI will be activated as early as mid-2015.
